Martin Lee @ Sg
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Market Focus for the Last Lap of 2008

I had some time between Steen Jakobsen’s talk and the panel discussion, so I decided to attend one of the talks on trading psychology. It turned out to be a complete waste of time as the speaker seemed to be more interested in impressing on the audience his trading records than sharing any knowledge.

Two-thirds through his presentation, I gave up and proceeded to the room for the panel discussion. The lists of panelists for this round of discussions include:

  • Johnny Ching from UBS
  • Ooi Lid Seng from Societe Generale
  • Song Seng Wun from CIMB-GK Research
  • Steen Jakobsen from Saxo Capital Markets
  • Terence Wong from DMG & Partners Securities

Unfortunately, I was very tired for this session and couldn’t really take down a lot of notes. However, there is a good chance you can catch the webcast on the Invest Fair website if they followed this year’s practice of showing the previous panel discussion online.

Nevertheless, these were some of the comments (in fragmented order) that I managed to capture:

Steen Jakobsen

  • With the slowdown in growth, there will be lower retained earnings.
  • Pharmaceuticals are trading at only 17-20 PE instead of the historical 30-32 PE.
  • Technology and alternative energy are also worth considering.
  • If you have to buy financials, buy the bond instead of the equity.

Terence Wong

  • Subprime much bigger and worse than expected.
  • A lot of volatility in the Singapore market.
  • S-Reits giving an average of 7% yield and are attractive.
  • Other possible considerations include the telcos, SPH and ST Eng.

Ooi Lid Seng

  • There will be earnings contraction.
  • Construction sector hit.
  • No clear sign of which sector to go into.

Johnny Ching

  • Spoke about one their products, the Callable Bull-Bear contract.

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Leave a Comment:

lioninvestor says 13 years ago

Hi Hippo,

Thanks for sharing.

Ya, Gabriel was on as a panelist on Sunday and mentioned some very good points. I was quite impressed with the way he could rattle off those numbers.

hippo says 13 years ago

Gabriel made some points on investing in sectors like financials (e.g. Citigroup, AIG) and also into consumerables (likes of Coca-cola, Mac’s i’d believe).

On commodities, he (or was it anthr speaker) spoke on differentiating btw energy (oil), metals (precious and others) vs agriculture. Possibly long term view on hard commods still bullish. Recent dip provides buy-in opportunity.

Further 2 cents to add. Kudos.

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